Last week we reported that the 30-year fixed mortgage rate had reached an all time low of 3.75 percent, but apparently it still had further to go as it set a new record low this week at 3.67 percent. This is the sixth straight week of drops for both the 30-year and the 15-year mortgage rates.
The 15-year mortgage rate also dropped from 2.97 percent to 2.94 percent making it a very popular option for people looking to refinance.
These low interest rates are helping to bring buyers back to the market as well as helping people to refinance to a lower rate in turn putting more money in their pocket allowing them to spend more. A true win-win situation.